Cannabis stocks got off to a slow start in 2020, with many company missing projections, and even more cannabis start ups being forced to close up shop. The “Big 3” Cannabis companies continued to show strength, however their rate of increase has slowed in recent months. However, today investors were pleasantly surprised when a number of Cannabis stocks not only showed increases in trading volume, but revealed company and industry record highs in trading volume. It appears that some states are now in the preliminary stages of granting new licences and manufacturing licences, allowing some cannabis companies who have been forced to sit on the sidelines to come to life.
Global Consortium Inc (OTCMKTS:GCGX), based out of Sacramento – with expansions into Florida – brought in over 130 million in trading volume today, which is a company record by a whopping 29%. This caught the attention of Cannabis investors who began to analyze why the sudden surge in trading volume for a cannabis company like GCGX. It appears that this morning GCGX issued a press releases stating they have closed a new deal, which grants them up to 80% of sales, which is a dramatic increase for the company.
CEO of Global Consortium (GCGX) had the following to say,
“We are very happy to finally be able to announce this new deal, which will be a game changer for GCGX and its shareholders. With the LOI for up to 25 litres per day, at a cost of $7,000 per liter, and now this new deal, we are expecting exponential revenue growth in 2020”
It appears one of their sister companies may very soon follow suit, in that of Integrated Cannabis Solutions Inc. (OTCMKTS:IGPK). Ran by the same management and same CEO as Global Consortium Inc.,, IGPK is in a similar position GCGX was in a few weeks ago, in terms of price and industry position.
It was recently announced that IGPK will be submitting a S-1 registration statement, with the intention of uplisting to OTCQB. This positions the company to begin appealing to larger institutional investors. Additionally, the company just recently announced that effective immediately all remaining convertible debt is eliminated in agreement with the debt-holder.
The following was also released by the company in a recent press release.
- In January IGPK will close the stock swap transaction with an operating dispensary in Los Angeles generating over $400,000 a month in sales, adding revenue to the Company in Q1 2020.
- Enter into a new contract to purchase the farm in Wisconsin, begin land prep for the new processing building, and order the building.
- Revise and file the S-1.
- Close the JV for Cannabis Manufacturing and Distribution in Los Angeles.
- In February the Company will begin ordering equipment for the processing plant.
- Will have the site ready for the building.
- Obtain financing commitments to purchase 50% of the dispensary in Los Angeles.
- Submit CUP plan for Lancaster, California.
- Submit application for the OTCQB.
- Complete over haul of the website and social media sites.
Released just last week by the company via their company twitter account: